Facilitating developments of solar PV power and onshore wind power generations for decreasing carbon emissions in China: A study based on evolutionary game theoretic method

This article examines encouraging close collaboration between wind and solar power producers and power-consuming businesses and luring outside investment through market mechanism optimization in the face of frequent wind and solar power curtailments. We start by reviewing studies on financing tactics and sales channel restructuring in wind and solar power projects. Then, using wind and solar power plants and energy investment firms as the primary bodies, we build a three-party evolutionary game model and perform theoretical and numerical-example evaluations. The study demonstrates that a number of factors influence wind and solar power facilities’ choices about their sales channels: (1) They often sell electricity to the grid as annual total power generation rises. (2) They prefer to work directly with businesses for long-term supply since energy investment organizations invest more money overall each year. (3) They are more willing to sell to businesses if the grid-selling price increases. (4) Wind power plants tend to improve grid cooperation when the levelized cost of electricity (LCOE) rises.In addition to providing fresh policy-making insights, our investigation of the new market mechanism for wind and solar power facilities offers a strong theoretical and empirical foundation for the best market model given Chinese national circumstances.